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Bold Eagle Acquisition Corp. Units (BEAGU) has submitted its Form 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Bold Eagle Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
As of September 30, 2024, the company had not commenced any operations and had a working capital deficiency of $450,279.
The company completed its Initial Public Offering on October 25, 2024, raising gross proceeds of $250,000,000 from the sale of 25,000,000 units, each consisting of one Class A ordinary share and one right to receive one twentieth of a Class A ordinary share.
Simultaneously with the closing of the Initial Public Offering, the company consummated the sale of 350,000 Private Placement Shares at a price of $10.00 per share, generating gross proceeds of $3,500,000.
Transaction costs related to the Initial Public Offering amounted to $11,896,413, including underwriting discounts and other offering costs.
The company has granted the underwriters a 45-day option to purchase up to 3,750,000 additional units to cover over-allotments, which has not yet been exercised.
The company intends to use the funds held in the Trust Account to complete its initial business combination, which must have an aggregate fair market value equal to at least 80% of the net assets held in the Trust Account.
Bold Eagle Acquisition Corp. is an emerging growth company and has elected not to opt out of the extended transition period for complying with new or revised financial accounting standards.
The company is subject to various risks, including geopolitical instability and market volatility, which could affect its ability to complete a business combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bold Eagle Acquisition Corp. Units quarterly 10-Q report dated December 5, 2024. To report an error, please email earnings@qz.com.